Union Minister Giriraj Singh held discussions with Finance Minister Nirmala Sitharaman about a relief package, including restructuring of loans, for the livestock industry in the first meeting of the Economic Response Taskforce, formed to combat the economic effects of COVID-19.
Industry Severely Impacted
Singh, who is Minister of Animal Husbandry, Fisheries and Dairying, stated that the livestock industry had been severely impacted by the coronavirus outbreak. Various measures, including loan restructuring, were discussed as potential solutions for people in this sector.
"Livestock industry has been hit badly because of the coronavirus outbreak. We discussed various kinds of measures, including loan restructuring, that can help people engaged in this sector."
— Giriraj Singh, Union Minister, MoFAHD
Giriraj Singh briefs the press after the first COVID-19 Economic Response Taskforce meeting
₹1.5 Lakh Crore Industry & Farmer Livelihoods
The Indian poultry industry is valued at Rs 1.5 lakh crore. More than 10 lakh small farmers are directly engaged in poultry production, with crores of additional people dependent on this sector indirectly.
Positive Response from the FM
Singh indicated that all issues received thorough discussion, and the finance minister responded positively, suggesting that beneficial actions would likely follow.
"All issues were discussed in details. The finance minister gave a positive response. Hopefully, positive steps will be taken…"
— Giriraj Singh, Union Minister, MoFAHD
The COVID-19 Misinformation Backdrop
Previously, Singh had noted that the poultry industry was experiencing substantial losses due to price and demand declines caused by social media rumours linking egg and chicken consumption to coronavirus transmission.
Prime Minister Narendra Modi announced the establishment of a COVID-19 Economic Response Task Force to determine relief packages for sectors affected by the outbreak. Ministers representing significantly impacted sectors are engaging with the finance minister, who chairs the taskforce.